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CEE: Market switched to Christmas mood

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Technical Analysis News

Hungary,Banks,EURHUF

As expected, the National Bank of Hungary left rates unchanged yesterday and forward guidance did not see much change either, ING’s FX analyst Frantisek Taborsky notes.

As expected,the National Bank of Hungary left rates unchanged yesterdayand forward guidance did not see much change either, ING’s FX analyst Frantisek Taborsky notes.EUR/HUF seems to have stabilised around 408-410 for now“As in November, one member voted for a rate cut. But at the same time, the press conference tried to introduce a long pause in the cutting cycle.

The HUF market, like its CEE peers, seems to have already switched into Christmas mode, and with little news coming out of today's NBH meeting, it is hard to expect a big market view. EUR/HUF seems to have stabilised around 408-410 for now.”“Today's calendar in the region is empty with several bond auctions on the calendar only, the last of the year.

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